Evidence of meeting #35 for Environment and Sustainable Development in the 45th Parliament, 1st session. (The original version is on Parliament’s site, as are the minutes.) The winning word was tax.
A recording is available from Parliament.
Liberal
Eric St-Pierre Liberal Honoré-Mercier, QC
That's very significant. It reminds me of the energy efficiency sector as well, which represents around half a million workers across the country and benefits all of our ridings.
Are all of your members of New Economy Canada supportive of industrial carbon pricing? If so, why?
Vice-President, New Economy Canada
I think, broadly speaking, the answer is yes. That said, I think it's also important that the policy has flexibility.
I talked about the opportunity around a competitiveness analysis at this point. The system is intentionally designed so that it doesn't bear major costs on industrial emitters. That said, there are those among our partner organizations that are challenged right now. I wouldn't put the point on industrial pricing, but those tariff-impacted sectors are particularly challenged right now and could look at support in other ways.
Liberal
Eric St-Pierre Liberal Honoré-Mercier, QC
Earlier in your testimony, you mentioned three key points. One is policy certainty. An industrial carbon price is good for access to global markets. You mentioned Germany, Japan, Brazil and other countries. Some have a carbon border adjustment mechanism. You also mentioned that an industrial carbon price helps drive innovation.
I have one minute left. Could you comment on how Canada adopting a robust industrial carbon price would actually allow us to thrive economically and have access to global markets? If you could unpack that second point, it would be great.
Vice-President, New Economy Canada
What we've seen is that there are already billions of dollars of low-carbon investments across the country. Those investments that have been made or are looking for an FID are banking on the existence of an industrial price. I point to some research that was done by the Canadian Climate Institute on more than 70 projects in industrial and natural resources that have a combined value of $57 billion and are banking on the existence of a price. It's not insignificant.
Thank you.
Liberal
The Chair Liberal Shannon Miedema
Thank you very much. That ends our time for today.
Thank you very much to all of the witnesses for coming and participating. We really appreciate it.
As a reminder, our next meeting will not be on Tuesday. It'll be on Thursday at 11 o'clock next week.
Thank you so much.
We're adjourned.